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Blueground launches first properties in London

Real estate technology company Blueground has launched its first collection of furnished apartments in London.

As PropertyWire detailed in December, the company provides a place to live for primarily work-related travellers in various cities.

Saad Cheema, VP of global expansion at Blueground, said: “From the perspective of landlords and property developers, Blueground is the perfect tenant.

“We handle everything from furnishing to maintenance, and provide reliable tenants, meaning that from the moment we take on a lease, the landlord never has to worry.

“Because of this, our team here in London is able to continue to grow our portfolio of ideally located apartments which will best suit our growing customer base that’s looking for turnkey, beautifully designed apartments.”

The turnkey apartments are located in central London neighbourhoods including Canary Wharf, Covent Garden, Holborn, Shoreditch, and Holland Park.

Blueground aims to lease 250 apartments in London by the end of the year.

With a total funding of $78m (£62m), the firm launched in Paris and Seattle in 2019.

Blueground leases apartments from individual to institutional owners and property management companies, before upgrading them.

The company holds these apartments for many years, ensuring landlords have a steady cash flow.

Alex Chatzieleftherio, co-founder and chief executive of Blueground, said: “Through developing and leveraging our own proprietary technology, we have established a unique value proposition and approach to this emerging space in the market.

“We’re excited to bring that approach to London, and we anticipate that it will soon become one of our largest European markets.”

The company has built a portfolio of more than 3,500 flats in 12 cities around the world, including New York, San Francisco, Los Angeles, Boston, Washington D.C., Chicago, Seattle, Athens, Istanbul, Paris and Dubai.